The weekly price assessment for Turkish domestic cold rolled coil (CRC) was $675-680 per tonne ex-works on September 1, again rising from $640-650 per tonne ex-works on August 4.

“Demand is very good, stocks are low, so producers keep increasing [their output]. And all prices – scrap, iron ore, billet, rebar, everything – increased together, so I do not expect prices to fall any time soon,” one market participant said on August 3.

“As all raw material prices and other commodity prices are increasing, prices keep rising. But I don’t know how long this will last,” another trader said on August 18.

Coated coil
Coated coil prices also increased over August in Turkey, in line with increasing HRC and CRC prices.

Demand remained moderate for coated steel in the country as it was the summer slow period, followed by the post-Ramadan Eid Al-Fitr religious holiday at the end of the month.

The weekly price assessment for Turkish domestic 0.50mm hot dipped galvanized coil (HDG) was $820-830 per tonne ex-works on September 1, rising from $760-770 per tonne ex-works on August 4.

The weekly price assessment for Turkish domestic pre-painted galvanized iron (PPGI), or colour-coated coil, of 0.50mm gauge, with 9002 colour code, was $940-950 on September 1, rising from $910-915 per tonne ex-works on August 4.

Import prices
The import prices from the CIS region were close to the domestic flat steel prices in Turkey in August, so the import market was not very strong. Buyers preferred to wait and see if prices would fall, but the rising prices for raw materials and other commodities gave strength to all flat steel prices globally.

The weekly price assessment for Turkish HRC imports was $575-585 per tonne cfr on September 1, up from $520-530 per tonne cfr on August 4.

And the weekly price assessment for Turkish CRC imports was $624-625 per tonne cfr on September 1, up from $589-590 per tonne cfr on August 4.

HRC exports
Demand for Turkish HRC weakened in Europe in August, as the region was in its seasonal holiday slowdown.

“All prices increased after China announced production cuts for environmental reasons. It would be no surprise to see [prices of] $600 per tonne soon,” a trader said on August 11.

“We did not accept $540 [per tonne] last week, and look [at the prices] now. Prices will hit $600 [per tonne] soon, but end-user demand is not that strong,” another market participant said on August 11.